Operating status at FCSIC

The Farm Credit System Insurance Corporation (FCSIC) is a government-controlled corporation. FCSIC’s purpose is to insure timely repayment of obligations jointly issued by the Farm Credit System banks under the Farm Credit Act of 1971, as amended. FCSIC, and the insurance fund that it holds, were created by the Agricultural Credit Act of 1987. FCSIC is self-supporting and receives no annually appropriated funds. FCSIC’s operations are entirely funded from amounts in the Farm Credit Insurance Fund. Farm Credit System banks pay annual premiums, which are deposited into the Insurance Fund.

The Farm Credit System is a nationwide government-sponsored enterprise of cooperatively owned banks and affiliated associations that fund about 44% of all U.S. farm business debt. By protecting investors who purchase insured System debt, FCSIC helps to maintain a dependable source of funds for the farmers, ranchers, and other borrowers of the System.

If Congress fails to pass a federal budget or a continuing resolution, FCSIC would remain open during a government shutdown and its employees would report to work.